The Watthana area of Bangkok is a very balanced area when it comes to developments. Unlike Sathorn or the Yan Nawa area the Watthana is far from the riverside however it is well covered by the mass transit system. The Watthana property area is serviced by no less than 6 mass transit stations as well as one subway station. Many consider the Watthana area to be the CBD of Bangkok.
Watthana District Property
Many businesses in Thailand are located in this area as well as many of the tourist attractions. Traffic is always difficult in Watthana as many of the people who live in the area also work in the area. Nana, Asoke as well as the Emporium are all located in this district in Thailand. Property development in this area is mixed from lower end developments to top-end developments on offer to foreigners. Always take legal advice when buying property in Thailand as foreigners are not allowed to own more than 49% of units in a building complex. Take note of this when buying offplan in Thailand as the developer will include you on their registrar as a foreign property holder.
Property in Watthana ranges from the very expensive properties such as The Monument Thong Lo where prices range in the 300,000,000 THB range of properties with 662 Sqm of floor space or ranging in the 453,000 THB per Sqm range. The is also the Esse Asoke property development with prices in the range of 11,000,000 THB per unit.
The Esse was built for expats and wealthy residents. It has 419 units and offers a sky gym as well as a golf simulator, resident’s lounge, sky pool, and skyscraper deck with good views of the city. This development was built over 55 floors. The Base is a smaller development with more affordable units. These range from 3,000,000 per unit with 26 Sqm of usable space located in Phra Khanong Nuea which is a section of Watthana district.
This is a very touristy area so there are many expats moving in and out of the area. It is also close to the mainline of the skytrain and also is home to the entertainment district of Bangkok. Property and rental prices in this area have always been on the up.
Rental Units in Watthana district
|September 2016||538 THB per Sqm||April 2018||588 THB per Sqm|
|February 2017||553 THB per Sqm||October 2018||583 THB per Sqm|
|August 2017||583 THB per Sqm||January 2019||596 THB per Sqm|
You will note that like other districts in Bangkok the rental prices in Watthana tends to follow the sale prices in the area. You can see this by the table below on sale prices in the Watthana area have growth while the rentals have also shown persistent growth over the years.
Sale Units in Watthana district
|September 2016||117,000 THB per Sqm||April 2018||148,000 THB per Sqm|
|February 2017||134,000 THB per Sqm||October 2018||154,000 THB per Sqm|
|August 2017||143,000 THB per Sqm||January 2019||167,000 THB per Sqm|
Always take proper legal advice as well as financial advice before you buy property in Bangkok or anywhere else in Thailand. Note also that foreigners are only allowed to buy 49% of the condominium units in a building in Thailand. Speak to a property lawyer today for more advice and assistance.